What To Know When Shopping For A Franchise

When shopping for a franchise to
own and operate, look for the key factors you would want present if
you were opening up a business independently…

First, don’t consider a franchise if you think it will be a ‘get rich quick’ scheme. If you have a highly diversified portfolio and are simply looking for a new area in which to expand your interests, a full time beauty salon franchise ownership might not be right for you.

When shopping for a franchise, it’s important to understand that you will be making a commitment to the parent company, and its customers.

Second, you should review and carefully consider all pertinent documents that the franchise has to offer. Be wary of businesses that are hesitant to furnish details about franchise performance, as it may mean they have something to hide.

The only major exception is that your prospective franchise may not want to furnish their Financial Disclosure Documents (FDDs) until having had a chance to speak with you. That’s because FDDs contain very sensitive financial information including average net sales, average EBITDA, average costs and expenses, and their projected earnings and revenues.

Once the business in question knows that you’re serious about a franchise however, they should be able to provide you this document with no hassles.

Additionally, here are some other important things to look for as you are shopping for a franchise:

Whether or not the market for this
product or service is secure, and if it will stay stable and
profitable into the future

Available direction and guidance
from knowledgeable owners who understand the business model they are
operating.

If the franchise contract is able
to be altered. It’s good if you have a little managerial leeway,
but beware of a franchise that lets you change too much about its
business model or company image. Inconsistencies in a brand turn
into a weaker success rate.

A proven business model with
consistent training and clear, available financial records

A straightforward contract, or
Uniform Franchise Offering Circular (UFOC) that describes all the
required fees and costs upfront

Protection from same-brand
competition; a location option far enough away from other branches
that the stores are not cannibalistic.

When you’re
looking for a franchise

It’s our goal to make CoLaz your
clear choice. You will have access to a proven business model that
generates high profit margins for owners.

We’ll also provide you
with expert guidance and support, helping you to quickly setup your
beauty salon franchise and operate it efficiently. For more
information on why a CoLaz laser hair removal franchise may be
a great fit for you, use this form to request additional information.